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By the numbers: What the latest interest rate hike means for your mortgage

Published Wed, 26 Feb 2025 07:41:53 GMT

This week, the Bank of Canada hiked interest rates yet again, raising its key interest rate by a quarter of a percentage point to 5 per cent, and the prime rate to 7.2 per cent.That means the cost of borrowing in this country is now the highest it’s been since 2001. Here’s a by-the-numbers look at how that has been impacting Canadians with mortgages:A couple in St. John’s, Newfoundland, with a $245,000, 25-year variable-rate mortgage:In March, 2022, based on a prime rate at the time of 2.7 per cent, this couple’s monthly payment would have been $1,122.07. With a variable-rate mortgage, this couple’s payment has increased 10 times with each Bank of Canada rate hike since then. At today’s prime rate of 7.2 per cent, these St. John’s homeowners will need to make monthly payments of $1,746.38 — or an extra $624 a month compared to what they were paying 16 months ago. At an interest rate of 2.7 per cent, over 25 years, this couple would pay over ...

Army colonel gets $975,000 in sex assault case against former Joint Chiefs vice chairman

Published Wed, 26 Feb 2025 07:41:53 GMT

WASHINGTON (AP) — A retired Army colonel has reached a court settlement of nearly $1 million in a sexual assault lawsuit against Air Force Gen. John Hyten, who served as vice chairman of the Joint Chiefs of Staff.The settlement with the U.S. government ends more than four years of investigations, reviews and congressional digging into the matter, which delayed — but ultimately did not defeat — Hyten’s nomination for vice chairman in 2019. He served two years and did not seek a second term.Army Col. Kathryn Spletstoser, who served as Hyten’s aide in 2017, filed the lawsuit, and in the settlement reached in U.S. District Court in California on Wednesday, the federal government will pay her $975,000. “It is my sincere hope that the successful outcome in my case will embolden other survivors of military sexual violence to come forward — no matter how high ranking the perpetrator,” she said in a statement Thursday. In an interview with The Associated Press in 2019, Spletstose...

Justice Department to investigate jail conditions in Georgia’s most populous county

Published Wed, 26 Feb 2025 07:41:53 GMT

ATLANTA (AP) — The U.S. Department of Justice has opened a civil rights investigation into jail conditions in Georgia’s most populous county, with officials citing violence, filthy conditions and excessive force by jail officers.Investigators will look at living conditions, access to medical and mental health care, use of excessive force by staff and conditions that may give rise to violence between people held in Fulton County’s jails, Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division said during a news conference Thursday. The county’s main jail is in Atlanta and has a long history of problems.Clarke cited the death in September of Lashawn Thompson in a bedbug-infested cell in the Fulton County Jail’s psychiatric wing, noting that an independent autopsy done at his family’s request found he died from neglect. Photos released by attorneys for Thompson’s family showed his body covered in insects.The announ...

Windy City Smokeout kicks off Thursday at Chicago's United Center

Published Wed, 26 Feb 2025 07:41:53 GMT

CHICAGO —  The Windy City Smokeout is taking over Chicago's United Center this weekend.The sold-out, four-day country music and BBQ festival will kick off Thursday and run through Sunday. Festival goers can expect over 15 live music performances and BBQ from some of the world's best pitmastersHeadliners include Zach Bryan on Thursday, Darius Rucker on Friday, Luke Bryan on Saturday and Zac Brown Band on Sunday.SEE FULL LINE-UP HEREThe festival will be held in Parking Lot C of the arena, located at 1901 West Madison Street, and the entrance to the festival is at Madison and Wood streets. The following streets around the festival will be closed in both directions:Madison Street from Paulina to Damen Wood Street from Warren to Monroe Wolcott Ave. from Warren to Monroe  Warren Blvd from Wood to DamenFor additional details visit WindyCitySmokeout.com. 

Farmers forced to dump excess milk due to oversupply

Published Wed, 26 Feb 2025 07:41:53 GMT

CHICAGO (NewsNation) — There's no shortage of milk in the U.S. these days. In fact, there is so much of it that farmers are being forced to get rid of it. The issue at hand is that milk is a daily commodity. Whether there's a demand for it or not, the cows have to be milked. If a cow is not milked, it could cause bruising, sickness and even death.Once the milk is collected, it must be transported to a dairy facility for processing.However, now there's too much milk and it's forcing farmers to dump it because the facilities can't keep up with the demand and have run out of space to store the milk.The processing plants are dealing with labor shortages, especially on the weekends, which means there's less production of milk products.In the upper Midwest, the demand for milk is down 20% this year. A Wisconsin-based dairy publication, The Milkweed, said that the daily loss of sales in the region equals about 25 semi-trailers of milk per day. USDA proposal would limit chocolate milk in ...

Manchin to join No Labels's NH town hall amid third-party speculation

Published Wed, 26 Feb 2025 07:41:53 GMT

(The Hill) – No Labels, an organization advocating for a third-party candidate, announced that Sen. Joe Manchin (D-W.Va.) will be joining its New Hampshire town hall as speculation grows over whether the senator will make a third-party bid for the White House.Amid polling showing a potential rematch between President Biden and former President Trump, No Labels has been pushing to create a separate “unity ticket” as a third option for voters in 2024. The group announced Wednesday that Manchin and former Utah Gov. Jon Huntsman (R), who ran for president in 2012, will be the keynote speakers during its “Common Sense” town hall at Saint Anselm College in New Hampshire July 17.Manchin, who is up for reelection next year, is a top target for Republicans hoping to recapture the Senate. He has yet to announce his plans for 2024 but has not ruled out a presidential bid. Trump slips behind Biden in hypothetical matchup: poll The West Virginia senator has had a longtime relationship with No ...

Alert issued after 23 armed robberies on North, NW Sides

Published Wed, 26 Feb 2025 07:41:53 GMT

CHICAGO — A community alert has been issued following 23 armed robberies throughout the North and Northwest Sides over a four-day period.In each of the incidents, CPD said the suspects arrived in a black or white SUV. They then displayed firearms and robbed victims of their personal belongings.CPD said in several of the armed robberies, victims were battered as well.A timeline of the armed robberies is below.400 block of North Noble Street on July 8, at 8:45 p.m. 2800 block of West Chicago Avenue on July 9 at 12:15 a.m. 4000 block of North Damen Avenue on July 9 at 1:30 a.m. 4600 block of North Ravenswood Avenue July 9 at 1:39 a.m.600 block of West Madison Street on July 9 at 2:30 a.m.4500 block of North Keokuk Avenue on July 9 at 3:17 a.m.1900 block of West Norwood Street on July 9 at 3:30 a.m. 2000 block of West Peterson Avenue on July 9, 2023 at 4:02 a.m. 6400 block of North Oakley Avenue on July 9 at 4:19 a.m.6400 block of North Claremont Avenue on July 9 at 4:22 a.m. 1900 block...

Amazon: More Prime Day items sold this year than last

Published Wed, 26 Feb 2025 07:41:53 GMT

(The Hill) -- Amazon sold more items for its Prime Day sales this year than last, making it the “biggest” one ever, with Prime members buying more than 375 million items throughout the world during the two-day event on Tuesday and Wednesday. That figure is up from the 300 million items sold during last year’s Prime Day, which had been the largest such event at the time.Tuesday, the first day of Prime Day, was Amazon’s largest sales day yet, the company announced in a release on Thursday. Prime members also saved more money than during any other Prime Day, it said, saving $2.5 billion. “Prime is an incredible value, and we’re proud to offer additional value for members through exclusive deals events like Prime Day,” Amazon Stores CEO Doug Herrington said. The release states that Amazon offered more deals this year than in any previous year, and home, fashion and beauty were the top-selling categories of products. This year’s Prime Day was also the largest for independe...

'Historically strong' El Niño possible: What it means for winter

Published Wed, 26 Feb 2025 07:41:53 GMT

(NEXSTAR) – There's a "greater than 90% chance" the El Niño, which developed unusually early this year, will last through winter in early 2024, National Weather Service forecasters said Thursday.El Niño is expected to continue strengthening until it reaches its peak sometime in winter. That's when the climate pattern can have the biggest effects on weather around the country. El Niño has different impacts depending on where you live. The southern third to half of the United States, including California, is likely to be wetter this winter. (Exactly where that dividing line falls varies from year to year.) El Niño officially arrives early: What it means for 2023 weather Meanwhile, the Pacific Northwest and parts of the Ohio Valley tend to be dry and warm.Hawaii also often sees below-average rain during an El Niño fall, winter, and spring season.How noticeable the impacts will be this year largely depends on how strong this "young El Niño" grows. On Thursday, the Climate Prediction ...

'Permanent, disabling injuries': Woman hit by piece of roller coaster sues Ohio theme park's parent company

Published Wed, 26 Feb 2025 07:41:53 GMT

SANDUSKY, Ohio (WJW) — A woman who was hit by a metal bracket that broke off the Top Thrill Dragster at the Cedar Point amusement park in Sandusky, Ohio, has filed a lawsuit against the park's parent company, court documents obtained by Nexstar's WJW show. The incident took place on Aug. 15, 2021. The woman, from Swartz Creek, Michigan, was standing in line when she was hit in the head by the metal bracket.The lawsuit, filed in Erie County's Common Pleas Court Wednesday, listed the woman, her husband and her father as the plaintiffs. Kangaroo injured after jumping from car on Kansas interstate The lawsuit asked for compensation following "serious, permanent, disabling personal injuries" of the plaintiff and alleges the park and its parent company, Cedar Fair, were willfully negligent in installing and taking care of the flag plate that dislodged from the ride and struck the woman. The plaintiffs also allege the park "willfully destroyed/removed the return side" of the ride to "dis...